Quote:
Originally Posted by PepsiFree
Maybe they should quit whining and realise this has a net-benefit for the industry as a whole.
If they have an issue, they should probably take it up with the AER panel that is directly responsible for finding solutions for producers that believe their curtailments are too high.
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Your response is odd to a Capital budget cut. This was the expected outcome that the Big 3 integrates companies would decrease capital spend in 2019 due to a curtailment. This only makes sense as you defer increases in production. The question is increaesed spending (or a smaller decrease in spending) of the non-integrated companies due to increased cash flows and additional government revenues offsets the losses of the Big 3.
I can also Almost guarantee that every oil company being curtailed is in communication with the AER on why their curtailment is too high.
The other thing is the big 3 should keep “whining”. They profit by picking up distressed assets from the juniors and mids. Helping out MEG and Cenouvos plus the other small players harms the long term of the Big guys.
When a company behaves as we expect them to behave we shouldn’t be complaining.